1、（原）金融专业英语（ FECT）中级银行业务模拟试卷 3及答案与解析 Qustion 1 1 Whats the name of the man who is seeking the mortgage loan? 2 When did he pay the down payment? 3 What is the purchase price of the apartment? 4 Through whom did he pay to the landlord? 5 What interest rate does he pay if he gets the loan? 6 How many ye
2、ars repayment schedule do they work on? 7 Is there any penalty if he makes early repayment, and how early? 8 Can Robert get unsecured loans if he applies for a short period of time and for smaller value? 9 People in what kinds of professions are mentioned in the passage that are offered unsecured lo
3、ans? 10 If a loan is granted to purchase a car, what do we call this kind of loan? Question 2 11 The Land Fund is now managed by the HKMA under the direction of the Financial Secretary as a combined portfolio with the Exchange Fund. （ A）正确 （ B）错误 12 After July 997, mainland Chinese banks applying to
4、 operate in Hongkong are still placed under the category of foreign banks. （ A）正确 （ B）错误 13 Money is a commodity itself. （ A）正确 （ B）错误 14 Credit instruments are issues by which investors supply permanent financing to firms or other borrowers including governments. （ A）正确 （ B）错误 15 Debit instructions
5、 arise when the party to whom payment is to be made demands the funds from the bank holding the debtors money. （ A）正确 （ B）错误 16 Compared with call deposits, time deposits generally have a shorter deposit time restriction, which ranges from 24 hours to one week. （ A）正确 （ B）错误 17 Under conditional lea
6、se, the company or the bank holds the title, takes the investment credits and depreciation expenses, and sells or releases the facilities when the lease expires. （ A）正确 （ B）错误 18 A breakers cheque is a negotiable instrument. （ A）正确 （ B）错误 19 Depending on the need of clients, SWIFT is the most conven
7、ient and the safest method. （ A）正确 （ B）错误 20 There is no circumstance where the “non-disclosure“ rule can be broken without the consent of the customer. （ A）正确 （ B）错误 21 Index deposit combines the benefit of a time deposit and an investment. （ A）正确 （ B）错误 22 A negotiable instrument is a conditional
8、Order or promise to pay a certain amount of money. （ A）正确 （ B）错误 Question 3 23 What are the agents required in the process of money creation through the open-market operations? 24 List any 4 most general types of bank loans and advances that banks provide to all economic sectors. 25 What global elec
9、tronic banking services can business customers obtain from banks? 26 List any 3 reasons for having funds moved from one country to another. 27 Name any 3 conditions that a company, a person or group of persons need to meet in order to get a bank license in HK. 28 What does the Federal Reserve Paymen
10、t Services include? Question 4 29 What is merchant banking? Why does it grow rapidly in Hong Kong? Question 5 30 Describe money markets and capital markets. Question 6 31 Analyzing the “security“ the factor that banks employ to consider the loan granting. Question 7 32 (a)Write short notes on the fo
11、llowing: (i)BACS (ii)CHAPS (iii)CHIPS (iv)FedWire (b)What are the significance and limitations of the balance sheet? Question 8 33 Wang wants to transfer his money from China to the US. Could you explain the different money transfer methods provided by banks to him? （原）金融专业英语（ FECT）中级银行业务模拟试卷 3答案与解析
12、 Qustion 1 1 【听力原文】 Personal loan A: Good afternoon, Sir, at your service. B: Oh, thank you. My name is Robert and Id like to make some enquiries concerning mortgage loan facilities offered by your bank. Am I in the right place? A: Yes, definitely Sir, please take a seat and let me get hold of a mor
13、tgage loan application form. Might I know some details about the property you intend to buy? B: I decided to purchase an apartment in Sapphire Court on Stanford Road, south of our town. I have already made my down payment last week and now I am trying to get a mortgage loan to finance the purchase.
14、A: Oh, I see. Is Sapphire Court a new development and what is your purchase price? B: No, its a second hand property and as far as I know, it has been 5 years since the building was built. The owner is demanding for 1 million. A: You mentioned that you have paid a down payment. If you dont mind, ple
15、ase tell me how much you have already paid mid the amount of loan you want from the bank? B: I have paid 40,000 to the landlord through the real estate agent and I will just need 700,000 from the bank. What interest rates shall I pay if Im approved to get the loan? A: According to practice, we offer
16、 our customer mortgage loans on the basis of prime rate plus 1.5 %. At the moment, prime rate is 8 % so your mortgage loan, if allowed, will approximate to 9.5 %. But we might be able to offer you better terms depending on your profession. Let me first try to fill out this application form for you.
17、Can I have your ID card please? B: But I might not want a loan from your bank if the terms are not suitable to me. Should I not fill in any form at this stage? A: Sir, the form is just to record the appropriate details and in any case, we will have to conduct an evaluation of the property before we
18、can approve a loan. In addition, we also need your signature when we come to the very end of the form. There is absolutely no commitment at this stage and you can rest assured that the bank will not force you to take up our loan facilities if you dont want to. B: I understand. Here is my ID card. Yo
19、u can take a photocopy if you need. A: Thank you Sir. Now I want the actual address and the size of the property. Do you want the repayment to spread across a 10-year schedule? B: Yes, lets work on a 10-year repayment schedule, Its Apartment 8A, Sapphire Court, Stanford Road South, so its on the 8th
20、 floor. The size is about 750 square feet as the landlord said. There are 2 bed rooms, a sitting mom, a bath mom and a kitchen. The main window faces the south. A: That sounds rather attractive. We will conduct an evaluation to find out the size and other related facilities. That will give us an ide
21、a on how much we can lend. Normally we only lend to a maximum of 70% for second hand properties but if you are looking for 700,000, which is only about 66% of your purchase price, I believe there is high chance for the loan to be approved as the property is quite new. B: Just now you mentioned possi
22、ble better terms. What exactly are they? A: Well, would you mind telling me your profession, your source of income and whether you intend to live in the apartment you purchase? B: Im an engineer in Arrow -provide research services and give consultancy services on all varieties of management problems
23、; -money market instruments are traded; -underwrite the debt issue of government and manage the sale of corporate debt and stock; -serve as agents to handle the payment of dividends to shareholders; -handle mergers, acquisitions, interest rate Swaps, leveraged buyouts, and other fee-earning activiti
24、es; -arrange or participate in syndicated lending/project financing; -provide advisory/underwriting services in IPO/placement. The reasons for the rapid growth of merchant banking in Hong Kong: Institutionalization -Growing importance of institutional investors in the market place has provided a cha
25、nce for the expansion of merchant banks. -Since 1990s, the main players of the stock market has shifted from individuals to the institutions. Deregulation -Competition across borders becomes available as the relaxation of regulations in the US and some European states and the development of Euro-mar
26、ket. -Because of the capital limitation, individuals must seek for help from the merchant banks which have considerable scale in global operations. Securitization and disintermediation -The change of the source of corporate financing from bank loans to merchant banks services has increased the devel
27、opment of merchant banking business. Many corporations like to seek financial arrangement through merchant banks. Advanced technology -Since the communication ability has been intensified by the advanced technology, the information exchange among merchant bankers and other financial institutions bec
28、omes more vigorous. Industrial organization restructuring -The environment for file growth of merchant banking has been created with the rapid restructuring of industrial organization, such as the breaking-down of conglomerates, introduction of leverage-buy-out, favorable acceptance of “junk“ bond.
29、Globalization -From 1990s onwards, a global market has been laid down by the creation of the Euro-market and the increasing use of commercial papers and other financial instruments and the impetus for the growth of merchant banking business has been provided by this favorable conditions. Question 5
30、30 【正确答案】 Money markets: Concept: Money markets are exchange systems where short-term, usually less than one year, highly liquid and readily marketable credit instruments are traded. Instruments traded in Hongkong money markets: Negotiable certificates of deposits: -a financial instrument issued by
31、a bank or a deposit-taking company as evidence of indebtedness; -repayable either on demand or at a determined future time; -carries either a fixed or floating interest rate. Inter-bank lending and borrowing: -in Hongkong, it is an intangible market participated by licensed banks and deposit-taking
32、companies; -borrowing is on unsecured and short-term basis, ranging from overnight call up to 6 to 12 months; -HIBOR is used to determine the offer price. Floating rate notes: -a negotiable instrument bearing a floating interest rate and issued by a company; -the quality of the note will be reflecte
33、d by the reception of the notes in file market; -a highly-rated company will offer notes with a better rate. Commercial papers/ bills: -a form of negotiable instrument issued by companies; -a promissory note, unsecured and with a maturity date; -comparatively high yield. The Exchange Fund Bills: -si
34、milar to the treasury bills issued in other countries; -investors earn no interest but receive a return based on the discount from their face value at maturity; -important investors are: licensed banks, deposit-taking companies, insurance companies, other financial companies and institutions; -advan
35、tages: highly liquid; strong credit standing; a large and expanding market. The Government Bond Instruments traded in the international money markets: Treasury bills. Eurodollars. Eurodollar certificates of deposits. Through local brokers and dealers who bring buyers and sellers together for a commi
36、ssion, one can easily get access to international money market instruments in Hongkong. Capital markets: Concept: it is a market where long-term financial instruments with maturities of upwards of one year are traded. General characteristics of the instruments: greater risk; less liquidity; higher d
37、egree of default rate. Types of instruments: Credit instruments -they are issues by which a lender advances funds to a borrower in return for the borrowers IOU. Equity instruments -they are issues by which investors supply permanent financing to firms or other borrowers including governments. Questi
38、on 6 31 【正确答案】 (1) Concept of the security Security can be viewed as a “comfort“ which provides the lending banker with the assurance that if things go wrong with the loan, there is another source of recovery available to minimize credit losses. (2)The classification of the security A. Direct securi
39、ty and collateral Direct security: refers to the borrowers assets obtained by the bank by way of a mortgage, charge or lien. Collateral: refers to any security deposited by a third party to secure the indebtedness of the borrower. B. Tangible and intangible Tangible: include land, buildings, fixed d
40、eposits, shares and stocks. Intangible: guarantees and indemnities. (3)The types of security and their features Land and other property Most popular type of security. It can be classified as “legal“ or “equitable“ mortgage. Life policy It is an adequate form of security, especially against loans mad
41、e to a sole proprietorship. Stocks and shares It is common type of security. To avoid the risk involved, loans should not be made against “unquoted“ shares. Guarantees It is a written undertaking to be responsible for the debt of another party. There are three parties involved: creditor, debtor and
42、guarantor. Debentures It is a written acknowledgement of indebtedness by a company, usually given under its seal and setting out the terms of interest and repayment. Deposits It is a safe and highly liquid form of security. Its value is readily available and realization is relatively easy. (4)The fa
43、ctors influencing the judgment of the security Value: the price at the time it is necessary to sell the asset so as to recover the loan. Type: Acceptability: acceptable to the bank as security, and be readily available to be transferred to the bank. Realizability: the last step that the bank takes t
44、o recover the loan. (5)The criteria for good or suitable security Easy to value. Easy to transfer tide. Easy to realize. Stable and increasing in value. (6)The advantage of using security It provides banks with some form of insurance to safeguard the bank against any loss if the loan turns out to be
45、 irrecoverable. (7)The limitation of using security Security is a protection rather than a source of repayment. It should be the last item to be considered in loan approval. Question 7 32 【正确答案】 (a)(i)BACS: Formerly known as Bankers Automated Clearing Services. BACS handles direct debits and credits
46、 as well as standing orders in the UK. The clearing process is normally completed on the third day of the operation cycle. (ii)CHAPS It refers to the Clearing House Automated Payments System. It is available nationwide in Britain. It is operated by a number of settlement banks who communicate direct
47、ly through computers. Payments sent through the system are guaranteed and unconditional, and cleared on a same-day basis. (iii)CHIPS It refers to Clearing House Inter-bank Payments System. It is a computerized network in the United States for transfer of international payments. It links up a number
48、of international banks and other financial institutions which have offices or subsidiaries in New York City. Members are classified as “settling“ and “non-settling“ member banks. Each non-settling member bank maintains an account with a settling member which effects settlement on its behalf. (iv)Fed
49、Wire It is a fund-transfer system operated in the USA by the Federal Reserve System (file Fed, the Central Bank of the US). This fund-transfer network handles transfers from one financial institution to another with an account balance held with the Fed. The transfer of reserve account balances is used for the buying and selling of Fed funds, and credit transfers on beha
